That’s the headline that screamed at me from my grandmother’s back porch on the weekend. The local Padstow real estate agent had delivered a sales brochure professing themselves the best in the business. They seem to be doing a good job for sellers …
It was the second page that really grabbed me though. A two bedroom home on 900 square metres in Peakhurst has just sold for $1.408 million dollars.
There’s nothing wrong with Peakhurst. It’s a perfectly respectable suburb 30km south west of Sydney’s CBD. And 900 square metres is a nice sized block of land.
But it’s still just two bedrooms in Peakhurst. And it’s still one point four million dollars, in a country where the median annual income is $57,000, pre tax.
In a letter to the real estate agent, the two sisters selling the property wrote “The overwhelming result has us both dumfounded”. Ladies, that makes three of us.
Ready to invest?
Visit this page for more information on how to invest with Forager.
Forager Funds is a boutique fund manager specialising in a value investing approach. We offer an ASX listed Australian Shares Fund as well as an International Shares Fund both aimed at delivering returns for long term investors.